EURGBP Up 3 Pips Over Past Hour, Moves Down For the 4th Straight Day; Eyes 20 and 100 Day Averages

Hourly Update

(Last Updated June 7, 2021 17:19 GMT)

Currently, EURGBP’s rate is up 3 pips (0.04%) from the hour prior. This is the 3rd hour in a row EURGBP has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 50 hour changed directions on EURGBP; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

EURGBP End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURGBP is down 1 pips (0.01%) since the previous day (opening today near 0.85903), marking the 4th straight day a decrease has occurred. Out of the 39 instruments in the Forex asset class, EURGBP ended up ranking 19th for the day in terms of price change. Below is a price chart of EURGBP.

EURGBP

EURGBP Technical Analysis

Notably, EURGBP is now close to its 20, 50, 100 and 200 day averages, located at 0.8611, 0.8643, 0.8629 and 0.8804 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 20.8 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days EURGBP’s price has gone up 7 them.